Generally, that is the deadline for accepting offers for graduate programs in the US. So if you’re on a waitlist for example, spots may open up after that date due to students who accepted offers elsewhere but never formally declined their other offers. Hope that answers your question! If you’re on a waitlist it just really depends on the activity of the students with current offers, if they reject before the deadline the program could reach out to you before the 15th with an offer, but if they wait until the deadline then you could still receive an offer in that week following the 15th. Best of luck!